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GLOBEX

GLOBEX is the CME electronic trading platform for trading derivative, futures, and commodity contracts, offering vast capabilities to facilitate the most complex and demanding trading. GLOBEX is a deep and liquid electronic marketplace that enables investors to choose from the widest range of products across all asset classes, traded in thousands of possible expiration dates and combinations. Trading Options on CME GLOBEX gives investors the flexibility, speed, transparency, access and liquidity they need to get the highest possible return from their trading endevours.

 

Investors can trade around the clock, around the world, and experience many benefits such as:

 

Millisecond response times

Complete price transparency, anonymity, reliability and market integrity

Unmatched functionality and capacity

Top-of-book real-time market data

Unparalleled customer support

Centralized clearing and guarantee of counterparty creditworthiness

 

 

More information of GLOBEX can be found at: http://www.cmegroup.com/globex/introduction/

 

Trading Sessions

You may enter, view, modify or cancel electronic orders during five daily CME Globex sessions. In each session, products transition through a variety of pre-defined states in which certain trading functionality is allowed.

  • The timing of these states and the transitions between them vary by product. Generally, they mark the beginning of the next trading day. For example, orders entered during Sunday's evening session (CT) are dated for and cleared on Monday. If the CME Globex and open outcry sessions overlap for a given product, the trading day includes both the CME Globex session and the trading floor open outcry session.

 

Product Trading Schedules

Products trade on CME Globex according to three different schedules:

  • Side-by-Side
    • Contracts trade on CME Globex and simultaneously via the trading floor
  • Electronic Only
    • Contracts trade only on CME Globe
  • After-Hours Electronic
    • Contracts trade electronically on CME Globex only after the product stops trading via the trading floor

 

Stop Logic and Protection Points

Stop Logic

The Globex trading platform is programmed to prevent the continuing execution of cascading stop orders when it detects certain conditions. The Match Engine monitors if the triggering of a stop order or series of stop orders will result in matched prices that exceed the contract’s No Bust Range from the price level that matching limit orders finished matching and caused the triggering of a stop order . The futures contract is then placed in a reserved state, during which orders may be entered, modified or cancelled but not matched.

Protection Points for Market and Stop Orders

Functionality in the Globex platform permits Market Protected and Stop Protected orders to be automatically assigned a limit price from a pre-defined value without the user having to manually define the limit price. The Protection Point (PRT) values vary among products and are subject to change. The Match Engine calculates the Limit Price by adding/subtracting the PRT value to the opposite best bid or offer price in the market for a Market Protected Order and by adding/subtracting the PRT value to the Trigger Price for a Stop Protected Order. Any unmatched remaining Quantity for a Market Protected or Stop Protected Order will become a Limit Order at the Limit Price assigned by the Match Engine.

The values for Stop Logic and Protection Points for products can be found below at the following link: http://www.cmegroup.com/globex/files/PriceBanding.pdf

    • Disclaimer: This information is obtained from sources believed to be reliable. However, WorldCommodityExchange.com cannot guarantee its accuracy. Contract Specifications are subject to change. Margins are subject to change at any time, please consult your broker for additional information on current margin requirements and a suitable level of gearing.

     

    Disclosure Statement

    All markets have inherent risks. Futures and options markets are no different and involve substantial risk of loss and is not suitable for all investors. Investors may lose more than their initial investment. Past performance is not indicative of future results. Investors must employ suitable risk management strategies to ensure that they can preserve capital if they run into a series of losses.